Global review 2014: women in the workplace - EY - Global different perspective is important to our success and no organization can afford to overlook women and other under represented groups as an important source of talent and leadership We know that diverse teams out innovate and outperform homogenous teams if led inclusively We get to better answers for our clients when women and men participate fully in the decision making process Our internal research bears this out we analyzed 22 000 EY audit engagements and found that teams with a balance of gender measured across six criteria including the gender of the leadership team and the number of team hours undertaken by each gender outperformed in both financial performance and quality teams that were less balanced Also it s estimated that women s impact as employees employers and entrepreneurs on the global economy over the next decade will be as significant as that of the billion plus populations in China and India today No organization can ignore women as part of its growth and revenue strategy While we ve made progress to close the gender gap in our organization we know we have more to do This year we particularly focused on sponsorship and succession planning so that we consider a more diverse group of people when making senior appointments within our business Around the world we continue to invest in sponsorship initiatives that match women managers and senior managers with the client assignments and leadership experiences they need for promotion We are rolling out training for all of our people to raise awareness of unconscious bias and we continually review and analyze our data to identify areas for improvement Our focus on women isn t limited to our own organization We re committed to helping remove any barriers that prevent the full advancement of women in business and the wider economy For example we identify develop and do business with women owned businesses as part of our own procurement policy We are a founding member of WEConnect International which certifies women owned businesses and our firms are members of WEConnect Canada WEConnect Europe and WEConnect India We are founding members of organizations such as the 30 Club a group of business leaders dedicated to achieving better gender balance at all levels of a business We also support initiatives such as the Third Billion campaign which helps one billion underprivileged women to more fully participate in the global economy by 2025 through better access to finance education and training By focusing on our own policies and initiatives and working with governments and advocacy groups we re making sure it s a better working world for women and men Q A on gender issues Bringing women on board India s New Companies Act 2013 mandates a woman director on the board of every listed public company of a particular size and stature The EY firm in India launched Board Readiness Workshops for Women the first of its kind in India with the objective of enabling women to be even more effective

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Global review 2014: global workforce - EY - Global my family moved to just outside New York City for two years and I always wanted to come back and live here as an adult says Kei Hirata an EY audit senior from the EY member firm in Tokyo I feel lucky that EY has given me the opportunity You can imagine working in another country but you never really know what it s like until you do it and face the challenges As our clients continue to globalize we need to be able to provide them with the right people in the right place at the right time Mobility deploying our people where their skills and experience are most needed is a critical aspect of providing our clients with exceptional service Of this year s newly admitted EY member firm partners around the world nearly one quarter have been on international assignment in their careers Even our clients who are focused on a single market value a broader global perspective from us At EY international work experience is also increasingly important to our people especially the more than 60 of them who are members of Generation Y who have grown up in a world that is borderless and connected through technology Kei is spending 18 months in New York as part of EY s Global Exchange Program GEP our longest running mobility program For Kei living and working in New York allows him to deepen his knowledge of US GAAP and US business practices while polishing his English language skills all of which will help him better serve global companies when he returns to Tokyo in March of 2015 Just as importantly Working with a very diverse team in New York and globally is helping me develop interpersonal skills and cultural knowledge that will help me lead multinational teams one day explains Kei The experiences that our international assignees accumulate are as much personal as professional When I get back to Tokyo I m going to share my experiences and encourage my colleagues to take part in mobility programs says Kei I ve made great friends here in New York and also among other GEP participants from 15 countries I met during our training week I m sure I ll stay in touch with them throughout my career EY recognizes and fosters all kinds of international experience as we continue to expand our mobility programs Mobility experiences range from working in virtual global teams to cross border business travel as part of an engagement or project team to long term international assignments of three to five years We offer three month assignments for staff seniors and managers through our Global New Horizons program the opportunity to do volunteer work across borders in our Vantage and Earthwatch Programs the GEP that Kei is participating in and many others We also continue to offer long term international assignments that give our employees the support they need to integrate into a local market and experience life living outside of their home country

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Global review 2014: youth unemployment - EY - Global social unrest Addressing youth unemployment requires long term commitment and coordination from the public and private sectors Brokering change Rohan Malik EY Global Government Public Sector Emerging Markets Leader also heads the EY International Development Network A key part of his role is to support governments in designing and implementing major transformation programs with global organizations such as the World Bank the EU and the UN to improve a region s attractiveness to investors We asked him for his views on one of today s most intractable challenges and how EY is helping to address the issue in the markets he works in What do you see as the cause of youth unemployment The financial crisis certainly played its part as well as shifting demographics the number of young people in these markets is rapidly rising But for me the issue is exacerbated by a failure to attract private sector investment That s vital as in robust economies nine out of every ten jobs are created by the private sector Governments need to focus on five things improving the investment climage in particular the cost and time of doing business making it easy to set up a business supporting small scale enterprises in their formative years addressing skills gaps and putting in place the right infrastructure Is this a government or a private sector problem Policymakers take ownership of the issue but rightly don t see themselves as the solution Their role instead is to create the right environment for the private sector to create jobs and bring in capital and management expertise So how does EY get involved We re a vital link between the private and public sector Take our work with one of India s state governments as an example Here we worked with the government to identify high potential industry sectors and incentives to attract investors We then spoke to potential investors and asked them what more they needed what skills gaps would need filling today and in 15 years time what infrastructure was required and so on and started to get those programs in place We got the time to set up a business and the time to connect to water and electricity down substantially The result a US 8b pipeline of investment and 200 000 potential jobs We re not a typical development contractor operating from the sidelines we re there for the long term focusing on legacy not just the completion of a project We were one of the first to set up our operations in developing countries and we continue to invest heavily in the development of our practices in these markets That s what building a better working world is all about sustainable and inclusive growth with the ultimate goal of prosperity for all Are we anywhere near solving the problem We re moving in the right direction but the task is far from complete as there are deep rooted issues to overcome Over the past four years we ve had

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Global review 2014: regulatory change - EY - Global that the best answers are found when the most people are contributing to the discussion Our scale and global reach mean that we can play an important role in convening and participating in discussions of issues that are central to business as a whole We focus our efforts in those areas that best match our business knowledge and skills These include corporate governance audit and financial reporting and other matters that affect capital markets more broadly EY engages directly with global organizations and participates in global forums such as those held by the World Economic Forum in Davos and elsewhere that bring together thought leaders on issues important to us and our stakeholders Fostering dialogue with regulators Policymakers in many countries are continuing to scrutinize how much tax multinational companies pay and where they pay it The Organization for Economic Cooperation and Development OECD is addressing the issue through the Base Erosion and Profit Shifting BEPS project This project looks at the interaction of tax rules of individual countries and seeks to develop an internationally coordinated approach to protecting countries tax bases while also protecting against double taxation of cross border business activity The BEPS project is a major undertaking that could lead to fundamental changes to the international tax environment EY formed a coalition the Global BEPS Working Group that is made up of global companies from a wide range of industries These companies have come together to focus on the implications of the BEPS initiative for their businesses and to engage proactively with OECD and government policymakers as specific proposals are being developed says Barbara Angus EY Global Strategic International Tax Policy Services Leader EY serves as a facilitator and intermediary assisting the companies in analyzing the potential impact of these proposals and developing recommendations for modifications or alternative approaches Our goal is to foster constructive dialogue between our clients and government representatives so that the ultimate result is an international tax system that aligns with global business Working with standard setters Stakeholders around the world are saying very clearly they want more information about companies about the financial statements and about the audit While stakeholders still want the auditor to give a pass fail opinion they also want more insights and perspectives from auditors and a better understanding of the significant issues that the auditor has dealt with in performing the audit Dan Montgomery has spent six years leading the International Auditing and Assurance Standards Board IAASB project on improving the auditor s report including the past three years as the IAASB s Deputy Chair Changes to the auditor s report are seen as essential to the public interest particularly in light of the calls for more information and transparency from auditors in the wake of the financial crisis said Dan Changes to the auditor s report are seen as essential in the public interest particularly in light of the calls for more information and transparency from auditors in the wake of the financial crisis Dan Montgomery

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Global review 2014: entrepreneurship - EY - Global we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home About us Our global approach Global review Global review 2014 entrepreneurship Contents Welcome Our services Delivering quality services Developing talent Engaging with the world Facts and figures Share Engaging with the world Entrepreneurship Extraordinary people Entrepreneurs are extraordinary people They create new technologies business models services and products that fundamentally change the global competitive landscape In the process they generate wealth make economies more competitive and communities more vibrant Entrepreneurs operate at every level of society fresh thinkers at global corporations visionaries at pre IPO firms and social entrepreneurs working on some of the world s most pressing problems Our decades long focus on this important group of women and men has given us a deep understanding of how entrepreneurial businesses grow and made us world leaders in recognizing advising and developing outstanding entrepreneurial talent Recognizing entrepreneurial talent Entrepreneur Of The Year is the only international award program to celebrate the important contributions that entrepreneurs make to their communities their countries and to the global economy We continue to expand our program internationally there are now 145 programs in 60 countries culminating every year in the World Entrepreneur Of The Year celebrations in Monaco This year s World Entrepreneur Of The Year winner was India s Uday Kotak founder of Kotak Mahindra Bank The company has progressed from seed capital of less than US 250 000 to an international group with US 2 8b in revenues and 605 fully fledged branches across India and international offices in London New York Dubai Abu Dhabi Mauritius and Singapore Advising entrepreneurial talent One of the ways we advise entrepreneurial talent is through our EY Entrepreneurial Winning Women program Women owned companies are currently not growing to the degree they could Businesses owned by men are three and a half times as likely to reach US 1 million in annual revenues EY s Entrepreneurial Winning Women program takes a select group of high potential women entrepreneurs whose businesses show real potential to grow and helps them do just that We provide access to informal one to one guidance and support share the latest information and research about business strategies and practices identify potential partners strategic alliances customers and suppliers as well as prospective sources of private capital and increase national and regional visibility for these women and their companies among corporate executives investors and the media Developing entrepreneurial talent We re committed to

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Global review 2014: emerging markets - EY - Global Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness Strategic Growth Markets How we help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home About us Our global approach Global review Global review 2014 emerging markets Contents Welcome Our services Delivering quality services Developing talent Engaging with the world Facts and figures Share Engaging with the world Emerging markets Busting emerging market myths To make the most of emerging market opportunities companies must challenge some long held assumptions By Rajiv Memani EY Global Emerging Markets Committee Chairman and Chairman India Region Myth 1 The emerging markets are the BRICs Emerging markets share some or all of the following characteristics they have a low to medium average income they have a large population they re rich in natural resources and they re going through rapid regulatory changes So in that respect Brazil Russia India and China are rightly considered emerging markets But so for example are Mexico Indonesia and parts of Africa as they also share these characteristics Each emerging market is unique businesses shouldn t necessarily think in terms of an overarching emerging markets plan They should instead tailor their strategy to particular countries or regions Myth 2 Only big companies can succeed in the emerging markets What s more important than size is a company s ability to adapt to local market conditions Government policies and market and cost structures are different in each country and affect all companies regardless of size Myth 3 An online business model won t work in an emerging market There are potentially many online business opportunities in emerging markets particularly through smart phones A case in point is Africa where 70 of the population has a mobile phone but only 20 of African families have a bank account As internet connectivity generally improves and technology costs go down some businesses in the emerging markets will leapfrog directly to online opportunities However a successful online presence in an emerging market does require deep local knowledge of a range of different issues These include buying and payment preferences the popularity of existing brands the most appropriate logistics custom duties and tax and much more In that respect on the ground relationships or joint ventures are important success factors regardless of the business model Myth 4 I can translate my current success in a developed market to success

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